EMGS releases vessel update and activity for the second quarter 2014 (Scandinavian Oil-Gas Magazine)

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EMGS releases vessel update and activity for the second quarter 2014

Published Jul 7, 2014

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Electromagnetic Geoservices ASA (EMGS) releases information on vessel activity and utilisation 4-5 working days after the close of each quarter. The Company defines "vessel utilisation" as the percentage of the vessel charter period spent on contracted or multi-client data acquisition.

Vessel utilisation for the second quarter 2014 came in at 75% compared with 78% for the second quarter 2013.

In the second quarter this year, the Company's vessels were allocated 38% to contract and 37% to multi-client programmes, whereas the allocation was 32% and 46% respectively in the corresponding quarter last year.

Tags: Electromagnetic Geoservices ASA (EMGS)

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